2020 VA Disability Compensation Rates
The 2020 VA Disability Pay Rates are out! As a Veteran, do you have a disability rating from the VA of 10% or higher? Many military Veterans often take interest in the benefits associated with their rated conditions. The following chart will help you determine the tax-free monetary amount you are eligible to receive.
As of December 1st, 2019, the 2020 VA Disability Pay Rates are in effect. Therefore, if you receive VA disability pay, you will notice the increased amount in your check automatically. Since last year, there was an increase of 1.6%. This is slightly below the expected such cost-of-living adjustment (COLA). The government addresses rates for military retiree pay, as well as, several other government benefits by adjusting this measurement every year. The next COLA will be announced on October 2020.
2020 VA Disability Compensation Pay Rates Chart
|Combined VA Disability Rating||2019 VA Disability Rates||2020 VA Disability Rates|
How does this affect me?
Because many will feel 1.6% is a low percentage increase, it may not seem so little over time! Now, Veterans with a rating of 100% can receive up to $3,684.01 per month, plus additions. This monetary benefit from the VA Disability Compensation is tax-free and does not affect your taxes. Therefore, as a reminder that all compensation is tax-free. It does not need to be declared on any taxes filed for the following year. Simply, it is your money allocated by Congress.
If you are a Veteran with a service-connected disability rating of 10% or higher, you can determine how much tax-free compensation you’ll get each month by viewing this chart. Also, Veterans with a 30% rating or higher can receive payments for eligible dependents.
Veterans Guardian is here to help! We are seeking Veterans who may be underrated to ensure they are receiving the benefits they are eligible for. If you would like to learn more or if you would like to speak with a representative, you can contact us by filling out the form below.